Page 128 - Caribbean-Central America Profile 2018

ST. LUCIA

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Starting a Business - Registration Requirements
No: Procedure Time to complete: Costs
1 Lawyer conducts name search and prepares incorporation documents 2 days XCD 3,500

2 Registration with the Commercial Registry 6 days XCD 850

3 Make company seal 2 days XCD 75
1 day, simultaneous with previous
*4 Obtain tax payer identification number no charge
procedure
1 day, simultaneous with previous
*5 Register as an employer with the social security institute no charge
procedure
*Takes place simultaneously with another procedure Source: The World Bank Group

SPECIAL DEVELOPMENT INVEST ST LUCIA GOVERNMENT
AREAS ACT Invest St Lucia’s offer guidance and direction St. Lucia is a constitutional monarchy. Executive
The Special Development Areas Act is aimed to new and established investors who are power is vested in the British sovereign as Head
at promoting balanced spatial and economic interested in pursuing investment opportunities of State, represented in St. Lucia by the Governor
development of the island. The legislation in St Lucia. These services include:
provides incentives to investors / developers of • Providing general and sector specific General who is appointed on the advice of the
the establishment of certain types of businesses information Prime Minister. The Prime Minister must have
in specially designated areas that are endowed the majority support of the House, to which the
with the necessary infrastructure and amenities • Facilitating investor site visits and providing Cabinet is responsible. Parliament exercises
for business development. The special customized information packages legislative powers. The 17-member House of
development areas are Vieux-Fort, Anse La • Matching investors with sector-specific Assembly is elected by universal adult suffrage
Raye, Soufriere, Canaries and Dennery. projects of up to a five-year term. The 11-member Senate
The following are the types of businesses that • Introducing potential investors to local is composed of six members appointed on the
qualify for concessions: industry advice of the Prime Minister, three appointed on
• Conference centers. • Business Start-up facilitation the advice of the Leader of the Opposition and
• Residential complexes. • Identifying sites for business development two by the Governor General.
• Commercial or industrial buildings, • Aftercare Client Support
including Office Complexes. ELECTIONS
• Other facilities directed towards the Invest St Lucia manages seven Industrial General elections were held in Saint Lucia on 6
Estates, including an Informatics Park to
improvement or expansion of services to the attract investment in information technology, June 2016. The result was a victory for the United
tourism sector. manufacturing and assembly type operations. Workers Party, which won eleven of the seventeen
• Water-based activities. Included also are the Hewannora and Vieux Fort seats. The next general elections are due in 2021.
• Tourism projects highlighting the heritage Industrial Free Trade Zones.
and natural environment of St. Lucia.
• Arts and cultural investments. Invest St Lucia GOVERNMENT LEADERS
Governor General
• Agricultural-based activities. 1st Floor Heraldine Rock Building Dame Pearlette Louisy
• Fisheries-based activities. Waterfront, Castries
Saint Lucia Government House, Morne Fortune
Tel: (758) 457-3400 Castries, St. Lucia
FREE TRADE / INDUSTRIAL Fax: (758) 452-1841 Tel: (758) 452-2481
ZONES
The St. Lucia Free Zone is located next to the Email: info@investstlucia.com Fax: (758) 453-2731
international airport in the south of the island,
and includes an administrative building and TRADE AGREEMENTS AND Prime Minister
11 warehouses, with fully equipped office and INVESTMENT TREATIES Allen Chastanet
showroom space of different sizes. For further • Multilateral Agreement - WTO Prime Minister’s Office
information on St. Lucia Free Zone, contact: • Customs Union - CARICOM 5th Floor,
The Free Zone Management Authority • Economic Association Agreement - Greaham Louisy
CARIFORUM / OECS Economic Union
Administrative Building,
P.O. Box 519,
Vieux-Fort, St. Lucia • Partial Preferential Agreement- CARICOM- Waterfront, Castries, St. Lucia
Tel: (758) 454-8881 Colombia / CARICOM-Venezuela Tel: (758) 468-2111
Fax: (758) 454 8427 • Bilateral Investment Treaty – Germany / Fax: (758) 453-7352
E-mail: stluciafreezone@candw.lc United Kingdom E-mail: admin@pm.gov.lc

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